Terengganu could benefit most if govt introduces carbon tax, says Rafizi

The Star

Terengganu is poised to reap the greatest benefits from Carbon Capture, Utilisation, and Storage (CCUS) technology, thanks to its existing infrastructure, says Datuk Seri Rafizi Ramli.  During his winding-up speech on the Carbon Capture, Utilisation, and Storage Bill 2025 on Thursday (March 6), the Economy Minister stated that the introduction of a carbon tax would attract heavy industries to establish factories in areas such as Kerteh and Kemaman.  Read more at https://tinyurl.com/yrfc4efk   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00Every year, our country has to face the effects of climate change.

00:10Floods, uncertain weather, devastation and so on.

00:15It doesn't matter if the leaders in countries like the United States withdraw from the Paris Accord.

00:23But we can't run away from climate change.

00:28So the world will continue to move in that direction.

00:32This is the opportunity we need to see.

00:35Because aside from the responsibility of Malaysia to achieve carbon emissions by 2050,

00:45we also have several opportunities and challenges that we need to face.

00:51First, if we don't have a mechanism to manage our carbon emissions,

00:57our companies will be penalised when exporting to other countries.

01:03Because in other countries that have a carbon tax mechanism,

01:08if it is not paid or not imposed, it will be a new form of tariff.

01:15We will also face difficulties in attracting investors.

01:21Because investors will only invest in industries that have green characteristics.

01:31Therefore, many of our industries will face problems if they can't show that they have carbon emissions.

01:40That is why Malaysia is a very fortunate country.

01:46Because before this, we had oil.

01:49Now, we are running out of oil.

01:51So the oil that is running out,

01:54if we use it well, it will be another new source of industry.

01:59Because it will leave oil fields that are no longer being used.

02:04Now, we can reverse the process.

02:08Before this, we sucked the gas out.

02:11Now, we can inject the gas back in.

02:15And this will be beneficial for the government.

02:18This will strengthen the country's economy.

02:21And for the people, it will create job opportunities,

02:27and economic planning,

02:30and also help the country to deal with climate change.

02:36I also want to mention something that has not been discussed,

02:42but has been discussed for almost a year,

02:48with the governments, including the government of Terengganu.

02:52Because the biggest burden lies with the government of Terengganu.

02:59The government of Terengganu now,

03:01the only industry in Terengganu is petrochemicals.

03:08And the only industry that provides good job opportunities

03:14is the oil and petrochemicals industry in Kerting.

03:18The industry now has a time limit.

03:22Because outside the coast of Terengganu,

03:26the oil and petrochemicals industry is already in decline,

03:30and will soon be finished.

03:33So, to the MPs from the East Coast,

03:38and especially from Terengganu,

03:40I urge us to think,

03:44if in another 15 years,

03:46and I, Tan Sri Yamjai Pertua,

03:48I am from there,

03:50I am from Kemaman, from Kerting.

03:52I know that if there is no petrochemicals industry in Kerting,

03:57Kemaman will die,

03:59and the impact will be on the whole of Terengganu.

04:02So, as a representative of the people,

04:04Dungun Setiu,

04:07what is the government's plan to ensure

04:11that when there is no petrochemicals,

04:13it will not have such a big impact on Terengganu?

04:16Therefore, the government of Terengganu

04:18is the strongest supporter of the CCUS law.

04:22Because with the existence of CCUS,

04:25we can extend the potential of Kertih

04:29as an industrial center.

04:31If before, the industry in Kertih

04:33depended on the oil that we took from outside the coast,

04:38now we can use the ease of CCUS

04:43which is outside the coast of Kertih,

04:47and also in Kuantan, for example,

04:49with the existence of CCUS,

04:52this allows us to bring in heavy industries there

04:57because of the need for heavy industries

05:00to contain carbon and store it outside the coast.

05:04And this is for the future of Terengganu,

05:07Pahang,

05:08and because of that, Kemaman does not exist.

05:11Actually, Kemaman has promised me

05:14that the representatives of the national association

05:17will fully support the CCUS law

05:21because the earliest project to be completed

05:25is in Terengganu and then maybe in Kuantan.

05:29So, if the representatives present today

05:32make a move such as the transition of the institution

05:35that does not support,

05:37what will be the victim is Terengganu itself

05:40because we cannot continue

05:42with the project that we want to announce

05:45at the beginning of 2025.

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